Analisis Pengaruh Reputasi Underwriter, Reputasi Auditor, Umur Perusahaan Emiten, Presentase Saham yang Ditawarkan, Return on Asset, Penjualan dan Ukuran Perusahaan Terhadap Underpricing Saham

PAWESTRI KENDALINI, Sumiyana, Drs., M.Si.

2010 | Skripsi | S1 Accounting

Tujuan dari penelitian ini adalah menemukan pengaruh dari reputasi underwriter , reputasi auditor, umur perusahaan, persentase yang ditawarkan, Return on Asset, penjualan, dan ukuran perusahaan terhadap underpricing saham. Terdapat kecenderungan terjadinya underpricing saat penawaran saham perdana dilakukan. Underpricing adalah sebuah keadaan saat harga penawaran perdana lebih rendah dibandingkan dengan harga penutupan saham.

Ada sekitar 127 saham perdana yang ditawarkan pada tahun 2000 hingga bulan Juli 2008 di Bursa Efek Jakarta dan Bursa Efek Indonesia. Dari data tersebut, hanya 62 penawaran saham yang dapat digunakan sebagai sampel penelitian. Penarikan sampel dilakukan berdasarkan metode Purposive Sampling.

Berdasarkanb penelitian ini, tidak ada satu pun variabel yang digunakan mampu menunjukkan pengaruh yang signifikan terhadap underpricing saham.

The objective of this research is to find the effect of underwriter reputation, age, percentage of shares that offered, return on asset, sales, and size of company issued share for the first time to shares underpricing .At initial public offerings there are tendencies that underpricing could happen. Underpricing is a circumstance where a share price is lower at initial public offerings than when it is commercialized in secondary market.

There are 127 companies that issued their first shares in Jakarta Stock Exchange dan in Indonesian Stock Exchange during 2000-July 2008, but only 62 samples used in this research. Those samples are taken under purposive sampling method.

According to this research, none of the criteria show a significant effect to shares underpricing.

Kata Kunci : initial public offerings, shares underpricing, underwriter reputation, auditor reputation, Return on Asset, Penawaran saham perdana, underpricing saham, reputasi underwriter, reputasi auditor